No. of Options held before the change

500,000

As a percentage of issued share capital

0.31%

No. of Options which are subject of this notice

500,000

As a percentage of issued share capital

0.31%

Amount of consideration (excluding brokerage and stamp duties) per share paid or received

0.11

No. of  Options held after the change

1,000,000

As a percentage of issued share capital

0.62%

PART III

1. Date of change of [Select Option]

2. The change in percentage level

From % to %

3. Circumstance(s) giving rise to the interest or change in interest

# Please specify details

[Select Option]

4. A statement of whether the change in the percentage level is the result of transaction or a series of transactions:

PART IV

1. Holding of Director, including direct and deemed interest:

Direct

Deemed

No. of shares held before the change

862,000

3,000

As a percentage of issued share capital

0.54%

0.002%

No. of shares held after the change

862,000

3,000

As a percentage of issued share capital

0.54%

0.002%

Footnotes

Amount of consideration (excluding brokerage and stamp duties) per share paid or received is S$0.11, being the average of the last dealt prices for a share for three consecutive trading days immediately preceding the date of the relevant Letter of Offer with 20% discount, rounded up to the nearest whole cent.

The number of options held by Director as a percentage of issued share capital is computed based on AnnAik Limited's issued share capital of 160,000,000 shares as at 30 June 2006.